8-K
Oppenheimer Holdings Inc (OPY)
As filed with the Securities and Exchange Commission on December 14, 2021
___________________________________________________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): December 14, 2021
OPPENHEIMER HOLDINGS INC.
(Exact name of registrant as specified in its charter)
Commission File Number 1-12043
| Delaware | 98-0080034 |
|---|---|
| (State or other jurisdiction of | (I.R.S. Employer |
| incorporation or organization) | Identification No.) |
85 Broad Street
New York, New York 10004
(Address of principal executive offices) (Zip Code)
(212) 668-8000
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CRF 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of each exchange on which registered |
|---|---|---|
| Common Stock | OPY | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
ITEM 8.01. Other Events.
On December 14, 2021, the Board of Directors declared a special cash dividend on the Company’s Class A non-voting and Class B voting common stock of $1.00 per share, payable December 31, 2021, to shareholders of record at the close of business on December 27, 2021.
ITEM 9.01. Financial Statements and Exhibits.
(d)Exhibits:
| Exhibit Number | Exhibit |
|---|---|
| 99.1 | Press release dated December 14, 2021 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Oppenheimer Holdings Inc.
| Date: December 14, 2021<br><br> By: /s/ Jeffrey J. Alfano<br> ---------------------------------<br> Name: Jeffrey J. Alfano<br> Title: Chief Financial Officer<br> (Duly Authorized Officer) |
|---|
EXHIBIT INDEX
| Exhibit Number | Description |
|---|---|
| 99.1 | Press release dated December 14, 2021 |
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Document
Exhibit 99.1
OPPENHEIMER HOLDINGS INC. DECLARES SPECIAL DIVIDEND
New York, December 14, 2021 - Oppenheimer Holdings Inc. (“NYSE: OPY”) (the “Company” or “Firm) today announced that its Board of Directors has declared a special cash dividend on the Company’s Class A non-voting and Class B voting common stock of $1.00 per share, payable December 31, 2021, to shareholders of record at the close of business on December 27, 2021. The aggregate payment will be approximately $12.5 million. The special dividend will be funded through existing cash.
Albert G. Lowenthal, Chairman and CEO commented: “We are pleased that the Firm’s operating results for a second consecutive year have been outstanding, permitting us to again reward shareholders with a special year-end dividend of $1.00 per share. This is in addition to the $0.03, or 25%, increase in the quarterly dividend to $0.15 per share effective in the second quarter of 2021. Despite recent market turbulence surrounding Coronavirus variants, we remain optimistic about the Company’s competitive position and prospects in a continuing strong economy.”
Company Information
Oppenheimer Holdings Inc., through its operating subsidiaries, is a leading middle market investment bank and full service broker-dealer that is engaged in a broad range of activities in the financial services industry, including retail securities brokerage, institutional sales and trading, investment banking (corporate and public finance), equity and fixed income research, market-making, trust services, and investment advisory and asset management services. With roots tracing back to 1881, the Company is headquartered in New York and has 92 retail branch offices in the United States and has institutional businesses located in London, Tel Aviv, and Hong Kong.
Forward-Looking Statements
This press release includes certain "forward-looking statements" relating to anticipated future performance including the projected impact of COVID-19 on the Company's business, financial performance, and operating results. The following factors, among others, could cause actual results to vary from the forward-looking statements: the severity and duration of COVID-19; COVID-19's impact on the U.S. and global economies; and Federal, state and local governmental responses to COVID-19. For a discussion of other factors that could cause future performance to be different than anticipated, reference is made to Factors Affecting "Forward-Looking Statements" and Part 1A – Risk Factors in the Company's Annual Report on Form 10-K for the year ended December 31, 2020.
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